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Updated almost 7 years ago on . Most recent reply

Lynn DeShazo's profile image
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Lynn DeShazo
  • Rental Property Investor
  • from Birmingham, AL
  • Member since Feb 15, 2016
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Lynn DeShazo's profile image
Lynn DeShazo's profile image
Lynn DeShazo
  • Rental Property Investor
  • from Birmingham, AL
  • Member since Feb 15, 2016
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Lynn DeShazo
  • Rental Property Investor
  • Birmingham, AL
12
Votes |
50
Posts
Buying & Selling Real Estate

HUD "reverse mortgage" listing buys?

Lynn DeShazo
  • Rental Property Investor
  • Birmingham, AL
Posted

HUD Guidelines 24 CRF 206.125 applies to the sale of Reverse Mortgage Foreclosures. The stipulations state that "Property cannot be sold below appraised value (LIST PRICE)." Can anyone familiar with this HUD product advise me as to whether it would be worth submitting a below list price offer anyway, or will HUD stick to their guns?

Thanks for any knowledgeable replies!

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Chris Mason
  • Lender
  • California
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Chris Mason
  • Lender
  • California
ModeratorReplied
Originally posted by @Lynn DeShazo:

HUD Guidelines 24 CRF 206.125 applies to the sale of Reverse Mortgage Foreclosures. The stipulations state that "Property cannot be sold below appraised value (LIST PRICE)." Can anyone familiar with this HUD product advise me as to whether it would be worth submitting a below list price offer anyway, or will HUD stick to their guns?

Thanks for any knowledgeable replies!

 If they are citing a law, that probably means they have zero flexibility. 

  • Chris Mason
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